Dai-ichi Life Holdings completed the investment of INR3.1bn in RenewBuy.

Dai-ichi Life Holdings, a Japan-based company mainly engaged in the insurance business, completed the investment of INR3.1bn in RenewBuy, a Insurtech and digital insurance distribution company. “RenewBuy, in seven years has digitally empowered advisors to offer insurance seamlessly, and 70% of our business comes from beyond the 30th city. Most insurance companies continue to focus on the top 30 cities only and unable to expand due to high fixed costs. Using technology, RenewBuy has brought massive efficiency in the sales process; we want to leverage this to deliver better pricing to customers. With low penetration levels currently, we will see exponential growth for RenewBuy in the next two decades. With Dai-ichi coming on board, we have found an ideal partner who shares our long-term vision. It provides us with an incredible growth opportunity, not only in India but across Asian markets, by leveraging our technology," Balachander Sekhar, RenewBuy Co-Founder & CEO.